Tax advisers have hailed the new Republican tax reform framework as a step in the right direction and positive for multinationals. But most are in agreement that it would leave the US with a large budget deficit, making its feasibility questionable.

The UK’s Criminal Finance Act is effective from September 30 2017 and all companies operating in the UK and abroad could be liable to criminal penalties if they or their associates are found to be engaging in tax evasion practices, but many are not prepared for the new rules.

Businesses have just three months left to ensure they comply with new measures to tackle VAT fraud via the use of certified cash systems and software. Non-compliance could trigger large fines, or even a full tax audit.

Angela Merkel has won a fourth term as German Chancellor, putting tax reform in Germany and the EU on the cards. But the election results suggest that it won’t be easy for Merkel to get her way on all tax matters.

The Swedish government has announced almost SEK 6 billion ($750 million) in tax cuts in its 2018 budget, but businesses are unlikely to benefit as they take on tough corporate tax changes and the aviation industry prepares for a new tax.

New Zealand is gearing up for the most closely-fought election in its recent history, with tax policies such as a diverted profits tax (DPT) at stake when the country goes to the polls this Saturday, September 23.

Soft drinks companies such as Coca-Cola are changing the way they invest due to the introduction of sugar taxes around the world. They claim that the taxes are doing more harm than good to each country’s economy and its citizens.

Ten EU member states agreed that large digital multinational such as Google, Amazon, Apple and Facebook will have to pay their ‘fair share of tax’. However, a lack of consensus around the core proposal for an equalisation tax remains.

UK FTSE 100 companies are putting more money aside than ever before to deal with the cost of tax litigation. These figures come a few days after the UK tax authority said it has yielded £312 million since the diverted profits tax (DPT) regime was introduced in 2015.

Multinational technology giants like Google, Amazon, Apple, Microsoft and Facebook could face higher tax bills under EU plans to introduce virtual permanent establishment rules. However, such rules could be difficult for governments to administer.

The Swiss Federal Council has released its new corporate tax reform proposals that resolve many of the issues raised in its earlier failed attempt. However, companies and entrepreneurs will be the ones paying for the changes this time.

A floating exchange rate system and the lack of a functional currency election for tax purposes has made the volatility of the Mexican peso one of the main discussions that international investors need to have before deciding on their capital structure to close a deal in Mexico.

The leaders of Brazil, Russia, India, China and South Africa (BRICS) reaffirmed their commitment to achieving a “fair and modern global tax system” that includes a deeper cooperation between the nations and on the OECD BEPS project. Digital enhancements will play a large part in their efforts to achieve this.

The French permanent establishment rules are the country’s biggest hurdle in taxing Google, Amazon, Facebook and Apple (GAFA) in the way it wants. But it is determined to use these rules to make such digital companies pay what it believes to be their ‘fair share of tax’.

French Finance Minister Bruno Le Maire has announced some of the tax cuts and other incentives that will be included in the upcoming 2018 budget statement to help the country compete with its neighbours.